Which of the Following Would Appear as a Prior Period

question 123

Multiple Choice

Which of the following would appear as a prior period adjustment?

• A) loss resulting from the sale of fixed assets
• B) difference between the actual and estimated uncollectible accounts receivable
• C) error in the computation of depreciation expense in the preceding year
• D) loss from the restructuring of assets

---

Definitions:

Budget Lines

A graphical representation of all possible combinations of two goods that can be purchased with a given budget at specific prices.

Equilibrium Position

Market equilibrium is achieved when demand equals supply, stabilizing prices as a consequence.

Price of B

The cost at which a specific good, service, or commodity "B" is offered for sale to consumers.

Indifference Curves

Indifference curves are graphical representations showing combinations of goods between which a consumer is indifferent, highlighting preferences.